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http://www.edmontonsun.com/News/ ... 29/4454312-sun.html) J1 @9 U. S, X
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WE ARE PETRO-CANADIANS
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Due to the climate of political correctness now pervading Canada, Albertans will no longer be known as "Rednecks." 7 J1 {( U4 C7 R3 T* C1 U; F/ n5 W( H
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We must now be referred to as "Petro-Canadians."
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WHY SELL NOW?
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If I didn't own a house in Edmonton, I'd buy right now, with the current 10% dip in prices that have doubled in the past three years.
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* H2 N, Q- i# @7 L! }, g- XIf I was thinking of selling, I'd hold off until 2008 or 2010. - m7 }. u& E# c/ Y7 Z) Z
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House prices, with a few peaks and valleys along the way, will continue to increase.
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* l7 \ E6 G I% nWe don't quite get it.
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& C ^. H' g" X2 o1 I, {We're squat in the middle of the greatest industrial boom in the freakin' world! 1 {& U4 v3 m" R& P& \+ C
% t" ?8 W3 M" R# Q- T3 tIn the oilsands, including mining projects and upgraders, the government lists 52 planned projects in its Inventory of Major Alberta Projects website. Average price: $3 billion per project.
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* d; U) S4 p U, q- @! m1 X& DEven with huge slowdowns, at least half those projects will happen. The bitumen upgraders in Strathcona and Sturgeon counties are just starting. Nine proposed upgraders are listed on that website. $ s7 K% T' m. p6 y0 C; Y
, `9 p( u5 H8 H4 Q# MUpgraders and big oilsands mining projects each require workforces of 5,000 to 6,000 to build over a two-year period.
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Tradesmen will pour into northern Alberta over the foreseeable future. The numbers of expected newcomers range from 3,000 to 10,000 per year, with a multiplier effect all over the region. 0 P4 T0 d/ z5 g0 ~, M7 q8 g i
9 V) p/ _' K9 j& p$ o8 iEvery expert in the world says oil prices will not collapse, due to world-wide demand. The price might drop by $10 per barrel, but oil- sand operations can still make a profit at those levels. 5 t! m( |5 T# ^' z3 H. S* X
( R ]9 i% D: G! Y4 AStricter environmental safeguards will increase the cost of production, but won't severely slow it down.
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And all those skilled tradesfolks, coming with their families, have to live somewhere. ) D7 V7 y. ]6 d) h9 ~4 Y" u: U
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House prices will go nowhere but up. |
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